Japan property developer enters Phl via joint venture
Kyushu Yaesu Co. Ltd., one of the leading real estate developers in Fukuoka, Japan, has established its presence in the Philippines through a joint venture with local firm NedSteel Construction and Development Corp.
The Japanese firm is a recipient of the “Good Design Award’ in Japan in 2017 – proof that the houses they build are not only sturdy and of high quality, but are also aesthetically pleasing and designed with the environment in mind.
The partnership was initiated by Asian Mergers and Acquisition Links (AMAL), a boutique investment firm that guides businesses and corporations in merging and acquiring companies for business expansion and new industry opportunities.
“We are connect- ing two companies from different countries. We provided advisory services and assistance throughout the entire rigorous process. After assessment and evaluation of Kyushu Yaesu’s needs, we matched them with a company that has similar corporate goals and objectives,” said AMAL founder and CEO Hideki Tanifuji.
“We don’t want to build homes for the Japanese or foreigners here in the Philippines. We want to build homes for Filipinos – affordable yet quality homes which our company is known for back in Fukuoka,” said Hisao Nakashima, executive vice president of Kyushu Yaesu.
The joint venture company, Hinata Housing Corp., will develop well-designed low-cost housing in Nueva Ecija, with Phase 1 ongoing in Peñaranda and Phase 2 soon in Tabon.
Nakashima estimates that the first phase will be finished in three years and will mainly benefit workers of the municipality. The prices of the homes range from P800,000 to P1.5 million for Peñaranda and P1.5 million to P2 million for Tabon, making it affordable to most Filipino families.
In addition, the company has various projects in the pipeline including a subdivision project in Antipolo. A subsidiary, Ambitious Development Philippines Inc., has likewise started its foray in the Philippine real estate market by leasing out 30 condominium units.
“At first, we looked at Singapore, Indonesia, Vietnam and Malaysia. However, we are impressed with the Filipino people. There are a lot of youth in the country and we have seen this 30 years ago in Japan so the growth potential is tremendous,” said Nakashima.
“We believe that the Philippine economy will boom and we want to become part of it. We are thankful for AMAL for guiding us in finding the perfect local partner who supports our vision to make a positive contribution to the Philippine real estate industry.”